Event Management
Chapter 6 Event Financing, Budgeting, & Revenue Maximization
6.3 Revenue Maximization
Revenue Maximization - Event Management - ثالث ثانوي
PART 1
Chapter 1 Introduction to Event Management
Chapter 2 The Market Demand for Events
Chapter 3 Suppliers in the Events Industry
Chapter 4 Planning an Event
PART 2
Chapter 5 Event Marketing and Sponsorships
Chapter 6 Event Financing, Budgeting, & Revenue Maximization
Chapter 7 Events and Sustainability
Chapter 8 Event Logistics, Operations, and Evaluation
Once you have completed this lesson, you should be able to: Identify ways in which revenue can be maximized at an event
KEY TERMS Corporate hospitality
Methods of Revenue Maximization
What do people spend money on at amusement parks
Corporate Hospitality
Concessions
Souvenirs and/or Branded Merchandise
Broadcast Rights
Ancillary Services
Why would TV, radio, and online broadcasters pay to film an event
Recouping Sunk Costs
pester power
Why do events want to maximize revenue
The Importance of Revenue Maximization
Increasing the Customer Base
Market Dominance
Increasing Profit
Why might a large event choose to maximize revenue over profit
Revenue Maximization as a Primary Goal
Quick Growth
Why might a video game convention focus on revenue maximization rather than profit maximization
Exposure
Increasing Brand Awareness
Lack of Profit
Sponsorship, and the amount paid for the right to sponsor an event
The Drawbacks of Revenue Maximization as a Primary Goal
Harm to Long-Term Sustainability
Cash Flow Issues
Take, for example, an event that generated very little profit after the first iteration
Revenue Generation
when should the financial goal be altered to meet the planned event outcome
Why might a business choose revenue maximization as a primary goal
Select the most appropriate answer for each of the following: 1. Revenue can be maximized by
Why do some events need to have a non-financial objective as a primary goal
Why does revenue maximization usually only have short-term value
